Sri Lanka will be bankrupt by January: Harsha -BY Shenal Fernando Source: Themorning Says $ 1.4 b outflows expected in Dec., Jan. Negative $ 437 million currency reserves by end Jan. $ 4.8 billion due in Feb.-Oct. 2022 Negative $ 4.7 billion currency reserves by Oct. Sri Lanka will be bankrupt by January 2022 as the country’s foreign currency reserves are insufficient to fund the foreign currency-denominated debt service repayments over the next two months, Samagi Jana Balawegaya (SJB) MP Dr. Harsha de Silva claimed. “During the months of December and January we have to repay $ 114 million in short-term funds. In addition, we have to repay $ 1,137 million in other loans as well as $ 194.7 million in interest payments. Therefore by end January we will have only $ 140 million left from the existing total foreign reserves and when considering in terms of liquid foreign currency, ...
Jan 6, 2022
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Tagged Indian Reserve Bank, Samagi Jana Balawegaya, The Central Bank of Sri Lanka
